Press Releases

Aequus Launches Medical Cannabis Physician Research in US and Canada

{tag_location} —

Vancouver, BC. April 5, 2017– Aequus Pharmaceuticals Inc. (TSX-V: AQS,
OTCQB: AQSZF) (“Aequus”) announced today they will fund market research targeting up
to 500 physicians across Canada and certain US states to further understand their current prescribing experience and perceptions around medical
cannabis. It is estimated that only 5% of current prescribers in Canada recommend the use of medical cannabis, despite new regulations by Health
Canada announced in August of 2016 which provide patients in Canada with an ability to access cannabis for medical purposes when recommended by
their physician.

This research will serve as a tool to identify barriers to current use and potential product offerings that could address those concerns in specific
therapeutic areas. Aequus is committed to advancing patient-centric products and intends to use the results from this study to guide in their development
efforts with medical cannabis. The research will target physicians across a number of specialties, including pain, oncology, movement disorders,
family medicine and natural health practitioners, in both Canada and certain states in the US.

“Aequus has a continued commitment to developing a pipeline of products that is supported by significant physician, patient and payor insights,” said
Doug Janzen, President and CEO of Aequus Pharmaceuticals. “We are applying the same methodology that we use to develop our current prescription
therapeutics to this rapidly evolving medical cannabis field. As we look to enhance the delivery systems used with medical cannabis, we will be
engaging with physicians and patients alike to ensure they are satisfied by the products we expect to advance.”

About Aequus

Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF)
is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus’ development
stage pipeline includes several products in neurology and psychiatry with a goal of addressing the need for improved medication adherence through
enhanced delivery systems. Aequus intends to commercialize its internal programs in Canada alongside its current portfolio of marketed established
medicines and will look to form strategic partnerships that would maximize the reach of its product candidates worldwide. Aequus plans to build
on its Canadian commercial platform through the launch of additional products that are either created internally or brought in through an acquisition
or license; remaining focused on highly specialized therapeutic areas. For further information, please visit www.aequuspharma.ca.

Contact Information:

Aequus Investor Relations

Email: investors@aequuspharma.ca

Phone: 604-336-7906

Forward-Looking Statements:

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements in this release include but are not limited to statements relating to: identifying barriers to current use and potential product offerings in specific therapeutic areas, using the results from this study to guide development efforts in medical cannabis, and enhancing delivery systems used with medical cannabis. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward-looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining positive results of clinical trials, obtaining regulatory approvals, general business and economic conditions, the Company’s ability to successfully out-license or sell its current products and in-license and develop new products, the assumption that the Company’s current good relationships with its manufacturer and other third parties will be maintained, the availability of financing on reasonable terms, the Company’s ability to attract and retain skilled staff, market competition, the products and technology offered by the Company’s competitors and the Company’s ability to protect patents and proprietary rights. In evaluating forward-looking statements, current and prospective shareholders should specifically consider various factors set out under the heading “Risk Factors” in the Company’s Annual Information Form dated April 29, 2016, a copy of which is available on Aequus’ profile on the SEDAR website at www.sedar.com, and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward-looking statements.